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Registration number: 08124024

Chalutz Legal Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Chalutz Legal Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Chalutz Legal Limited

Company Information

Director

Mrs Joanna Millicent Abrahams

Company secretary

Mr Paul Abrahams

Registered office

Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Chartered Accountants
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

Chalutz Legal Limited

(Registration number: 08124024)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

fixed assets

 

tangible assets

4

14,680

19,577

Current assets

 

Cash at bank and in hand

 

309,247

189,574

Creditors: Amounts falling due within one year

5

(203,293)

(136,579)

Net current assets

 

105,954

52,995

Net assets

 

120,634

72,572

capital and reserves

 

Called up share capital

6

103

103

Profit and loss account

120,531

72,469

Shareholders' funds

 

120,634

72,572

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2024
 

.........................................
Mrs Joanna Millicent Abrahams
Director

 

Chalutz Legal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

These financial statements were authorised for issue by the director on 20 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Chalutz Legal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

10% on cost

Office equipment

33.33% on net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Chalutz Legal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

48,867

700

49,567

At 31 March 2023

48,867

700

49,567

Depreciation

At 1 April 2022

29,321

669

29,990

Charge for the year

4,887

10

4,897

At 31 March 2023

34,208

679

34,887

Carrying amount

At 31 March 2023

14,659

21

14,680

At 31 March 2022

19,546

31

19,577

Included within the net book value of land and buildings above is £14,659 (2022 - £19,546) in respect of short leasehold land and buildings.
 

 

Chalutz Legal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

6,281

7,404

Other creditors

 

41,342

19,464

Directors' loan accounts

 

155,670

109,711

 

203,293

136,579

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary J of £1 each

99

99

99

99

Ordinary P of £1 each

1

1

1

1

Ordinary N of £1 each

1

1

1

1

Ordinary A of £1 each

1

1

1

1

Ordinary G of £1 each

1

1

1

1

 

103

103

103

103

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £25.25 (2022 - £51.51) per each Ordinary J

 

2,500

 

5,100

Interim dividend of £Nil (2022 - £2,000.00) per each Ordinary P

 

-

 

2,000

Interim dividend of £11,800.00 per each Ordinary N

 

11,800

 

11,800

Interim dividend of £11,800.00 per each Ordinary A

 

11,800

 

11,800

Interim dividend of £11,800.00 per each Ordinary G

 

11,800

 

11,800

   

37,900

 

42,500